The parent company of Hatteras Yachts cut 325 jobs Thursday at its New
Bern and Edenton boat-building plants.

The employees were told Thursday morning that the cuts were effective
immediately. They affect salaried and hourly employees in the 960-person
Hatteras work force and the 95-person Albermarle staff and are terminations.
"We had a lot of good people go out the door today," said Dan Kubera,
director of media relations and corporate communications for parent
company Brunswick in Lake Forest, Ill.

Company officials told employees it will reduce production for the 2009
model year and resize its organization to be more competitive and
profitable in the current market, he said.

The company did not give a breakdown of how many of the 325 employees
worked at New Bern and how many at Edenton.

"As with most other U.S. boat makers, these brands have been doing their
best to confront a weak domestic marine industry," said Keri Theophilus,
president of The Hatteras Collection, based in New Bern and Edenton.

Theophilus said: "We have done so by growing sales outside of the U.S.,
better controlling costs and taking a number of other measures,"
Theophilus said.

"Unfortunately, these efforts have not totally mitigated the reduced
sales activity being experienced in the U.S. marine marketplace, nor
addressed our long-term need to fashion a smaller and more agile
organization that can prosper and effectively compete not only in
current market conditions, but in the market upswing when it occurs.

"With a responsibility to ensure the financial strength and equity of
these brands, we have adjusted production rates downward at our
manufacturing facilities. Unfortunately, this production adjustment
dictates a necessary and accompanying reduction of employment."

"While we regret having to take these actions, we recognize the need for
effective pipeline management to safeguard the financial health of both
our brands and our dealer network.

"This decision is no reflection upon our work force, but the result of
current economic realities and, just as importantly, our need to reflect
market demand going forward with a leaner, more efficient organization."

Kubera said, "The company has been doing a number of things to
counteract the weakness in the domestic market but unfortunately it was
not enough. These job losses are not a furlough, not temporary; these
positions are permanently eliminated."

He said action began in June to cut $300 million in costs, including
cuts at the Navassa Plant in Brunswick County.

Officials said the company will help employees find other jobs.

The last major cutback at Hatteras was in January 2003, when 250 jobs
were eliminated in New Bern.

New Bern Sun Journal Aug 14, 2008


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